Gas Prices Fall, How Low Will They Go?

By: Lori Dougovito Email
By: Lori Dougovito Email

Gas prices around mid-Michigan continue to stay under the $2.00 mark. By noon Monday, most stations were posting prices somewhere around $1.95 per gallon for regular, unleaded gasoline.

Industry experts say a number of factors contribute to the dropping price at the pump now. For example, crude oil prices are low at a little more than $53.00 a barrel and the mild winter weather we've experienced so far has kept supplies up.

But, President of Michigan Petroleum Association & Michigan Association of Convenience Stores Mark Griffin says the low prices most likely will not last.

"If you look back over the last 16 years, 14 of the last 16 years we've seen the highest gas prices in mid-July and the lowest gas prices in early January," says Griffin.

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